Why Domo Shares Are Tumbling Today?
Portfolio Pulse from Lekha Gupta
Domo Inc's shares have fallen by over 30% after the company issued a below-consensus Q3 outlook and lowered its FY24 guidance. Despite reporting a Q2 FY24 revenue growth of 5% Y/Y to $79.7 million, beating the consensus of $78.90 million, and an adjusted EPS loss of $(0.02), better than the consensus loss of $(0.09), the company's outlook for Q3 and FY24 fell short of expectations.
August 25, 2023 | 10:30 am
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Domo Inc's shares have fallen significantly due to a disappointing Q3 outlook and lowered FY24 guidance, despite a positive Q2 report.
Domo Inc's shares have fallen due to a disappointing Q3 outlook and lowered FY24 guidance. This is despite the company beating the consensus for Q2 revenue and EPS. The lowered guidance indicates that the company expects weaker performance in the future, which has negatively impacted investor sentiment and led to a drop in the share price.
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